AUSTIN - ALARA Cantebrea Crossing and ALARA Canyon Creek have been sold as a single portfolio.
The two Class A multifamily communities feature a total of 732 units.
The portfolio was 95 percent occupied at the time of sale.
The properties are located along N. FM 620 in Austin's Northwest submarket.
The assets' proximity to Lake Travis, good schools and strong employment hubs in the technology, medical and education fields helped drive investor interest for the two properties.
American Realty Advisors sold the properties after acquiring them in 2006 and 2007.
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